Seattle gas prices fall slightly but don't expect it to last

Crude oil supplies are dropping and that means unexpectedly higher prices this winter.

Author:
KING

Published:
8:19 AM PST January 29, 2018

Updated:
8:20 AM PST January 29, 2018

Gas prices dropped almost a penny last week according to a survey done by GasBuddy.com, but don't expect the lower price to last.

The gas-price tracking site says crude oil supplies are lower for the tenth straight week and an analyst is predicting the traditional winter relief we get on prices may not happen this time around.

"The current price environment may be the floor for what could become a more expensive year than anticipated, barring any change to OPEC policy that has led to today's climate of lower supply and higher prices," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"Gasoline prices have continued to climb in many places, rising to their highest level since Hurricane Harvey dealt a blow to Texas and a significant portion of U.S. refining capacity," said DeHaan.

Prices in Seattle dropped .9 cents last week to an average of $3.00 per gallon. That's based on a survey of 775 gas outlets in the city. This time last year the price of gas in Seattle was significantly lower at $2.78 a gallon.

Tacoma is up five cents to $2.96 per gallon. Statewide, gas is up 3.5 cents to $2.93 per gallon. Nationally, the price of gas is up 8.8 cents per gallon on average, the highest level in more than four months.

KING5.com partners with GasBuddy.com. See the lowest prices in the area below or click here...